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Peanuts: attacks in the Red Sea slow down exports

January 15, 2024 at 12:22 PM , Der AUDITOR
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NEW DELHI/BUENOS AIRES. The attacks by Houthi rebels on cargo ships in the Red Sea are currently making shipments considerably more difficult and expensive; this is having a noticeable effect on exports from various countries. A new export tariff on peanuts has been announced in Argentina.

Exports significantly disrupted

Although Indian peanut prices rose slightly by USD 10/mt compared to last week, there is still no sign of a real recovery. Exports are currently characterised by geopolitical tensions, with the attacks by Houthi rebels on cargo ships in the Red Sea in particular causing freight costs and insurance prices to skyrocket. The freighters that transport the goods from India to Europe, the USA and the Middle East sometimes have to take long detours. Demand is currently weak, but larger stockists in particular are hopeful that peanuts could b

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